Let me talk about myself. After graduating, I only worked for a little over a month before quitting. Working simply wasn't suitable for me. Not long after quitting, I came into contact with the cryptocurrency world, entering with 50,000 savings. At first, I knew nothing and quickly lost over 20,000, but with a sense of unwillingness, I returned to work, determined to study and learn persistently. After more than ten years of ups and downs, I have now amassed over 80 million in assets.

Although I don’t have the kind of success where someone turns 10,000 into two small targets, I am very content and stable, dreaming that my account can surpass 100 million by the end of this year, and I will have more capital to earn more money next year.

What should you pay attention to in the cryptocurrency world? In addition to solid skills, I strictly adhere to the following 10 rules:

1. Better to miss out than to make a mistake. The entry point directly determines the exit point and how much profit you will make. Therefore, the entry point is absolutely crucial in my trading process. Some stocks might look like they can rise strongly, but if there is no buying point, you can only miss out or participate with a small position. Because without a buying point, once it rises, it means your entry cost is higher than others. It's easy to help others lift the price for a short time, and if funds are large, even a slight pullback can cause anxiety. So, either miss out or wait for a good entry point after a pullback.

2. Always leave yourself an exit. Everyone is the same; at first, they are blinded by greed and go all in, believing they are very sure. As they gain more experience, they find that there are often many surprises. Although the overall direction is correct, the entry points they consider often deviate from reality. When funds are small, position management issues do not become apparent, but when funds increase, these issues become clear. The result of going all in is often being stuck in a lift, with significant floating losses directly affecting operational emotions. Therefore, you must always have a medium to long-term position strategy, and even with 200% confidence, do not use 100% of your capital; this is equivalent to leaving yourself an exit!

3. Earn what you are supposed to earn. In a vast sea, just take a sip. Most stock traders at the beginning want to eat everything from the start to the end of each coin, wanting to capture all the rising parts and avoid all the falling parts. After years of experience, they ultimately gain nothing, and in the end, they realize they should focus on a specific pattern. I only focus on identifying bottom patterns, so what I share is centered around bottoms. If there is no bottom, I will only look at accelerated rising patterns. We can open any candlestick pattern, list profitable patterns, and choose a common one to focus on. Over time, this pattern will become your cash machine because you are aware of most traps and opportunities within it, making it easier to earn the part you are supposed to earn. This is also the purpose of our presence in the cryptocurrency world.

4. The more you lose in trading, the more cautious you should be about averaging down. Many people who trade cryptocurrencies become anxious after being trapped, not thinking about exiting this time but rather averaging down to reduce their holding costs, hoping for a rebound to break even. This actually goes against common sense. The process of decline cannot be reversed in one or two days. Averaging down is merely self-comforting; the more anxious you are, the more likely you are to make wrong moves, ultimately leading to frustration. Why dare to average down at this position?

5. Trading discipline must be strictly enforced. Many traders create detailed plans before trading, such as when the overall market drops to a certain level before taking action, or at what price for individual coins they will enter. However, during trading, they are often easily influenced by stimuli and temptations. If you cannot execute your own plan properly, then you are not trading in the cryptocurrency market but in a casino; most operations at that moment will likely be wrong.

6. Do not get emotionally attached to any asset. If you fall in love with an asset you are trading, it can easily lead to poor decision-making. Excellent traders make money through efficiency and rules, giving themselves an advantage because most people's trading behavior is driven by emotions. 'Be an emotionless trading machine' can ensure decisiveness and principle in trading. Many traders suffer heavy losses because they easily become emotionally attached to specific altcoins, teams, or projects. This might be acceptable for medium to long-term investors, but it can be a potential disaster for short-term traders.

7. Maintain simple trading rules. Traders often combine various indicators, news, and candlestick patterns to try to find suitable trading convergence points. This is not problematic in itself, but it is important to avoid over-analyzing, which complicates issues. In fact, when a candlestick pattern that fits your system appears on the chart, you can initiate a trade. Additionally, be sure to set stop-losses and manage your positions; this is particularly important.

8. Trade only with the correct mindset. When you feel angry, tired, or stressed about something, do not trade; your mindset will affect your judgment. The key to maintaining a good mindset is having other daily activities outside of trading. For example, exercising, reading, and spending time with family and friends—all of these help cultivate the right trading mindset.

9. Do not forget that technical analysis is a probability game. Technical analysis is not absolutely correct; it is essentially a probability game. This means that no matter what technical methods you use to formulate strategies, you cannot guarantee that the market will operate as expected. Technical analysis is merely a prediction and should not be treated as a deterministic event for trading. No matter how rich your experience or impressive your track record, do not assume that the market will follow your technical analysis. If you hold this mindset, it is easy to over-bet on a preset assumption, leading to excessive risk exposure. The market will teach you a lesson in no time.

10. Be strict with yourself. Overcoming oneself is very difficult. On sunny days, you may think you understand your faults and want to avoid them, but in reality, it is complicated. Trading does not need to be complicated; it should be simple and effective. Traders need to find the right trading principles that suit their characteristics and strictly implement them. Discipline and mindset control are more important than improving technology; only then can you survive in the market for a long time. The most important thing in investing is to avoid failure, not to seize every success.

It is the same in trading; it is better to miss an opportunity than to make a mistake. Sometimes waiting is also a form of profit.

I have been trading cryptocurrencies for nearly 10 years, relying on these 12 iron rules to trade professionally and achieve stable profits. If those who read this article can grasp its true essence and achieve the unity of knowledge and action, then you can truly transform in the cryptocurrency world, changing your fate in the market from then on!

These 12 rules for short-term trading will help you increase your winning rate:

The market is never short of opportunities; the most precious thing is the principal. Every trader should develop and perfect a set of trading rules that suit themselves, making wiser decisions and improving their trading winning rate after summarizing lessons from failures and successes.

Finally, if you are a short-term trader, you should only allow yourself to make four types of trades in principle: First, large profit trades; Second, small profit trades; Third, breakeven trades; Fourth, small loss trades.

Stop-loss is counterintuitive but is one of the most important principles in short-term trading.

Reasons for losing money in trading:

Let me give you an example, and you'll understand.

You have assets of 1 million. You used 700,000 to buy a coin. The next day, the coin dropped 1%, and you lost 7,000. You don't care because it will eventually go back up.

On the third day, it dropped another 3%, and you lost almost twenty thousand. You are undaunted because it will eventually recover.

On the fourth day, it rose 2%, and you got back almost ten thousand of your original investment. You smiled, feeling that everything was within your grasp.

On the fifth day, it suddenly dropped 20%, and you lost 140,000. You felt somewhat uneasy, starting to fantasize that it would rebound the next day. On the sixth day, it rebounded 5%, and you breathed a sigh of relief, thinking that trading cryptocurrencies still has its patterns.

On the seventh day, it rose 1%, and you began to feel hopeful.

On the seventh day, it rose 1%, and you began to feel hopeful.

On the eighth day, it rose another 1%. Although you feel the increase is slow, at least there is hope for breaking even, and you are content.

On the ninth day, it suddenly plummeted 30%, and you started to panic, doubting whether you had chosen the wrong coin.

On the tenth day, it dropped another 10%, and you started to feel angry.

On the eleventh day, when the price no longer fluctuates significantly and starts to consolidate, you see someone online saying this is a bottom-building signal, indicating that the market is accumulating momentum. You firmly believe it will rebound soon.

However... In the following week, the price continued to consolidate. You went online to learn some knowledge about cryptocurrencies and, based on your understanding, you believe this is the legendary 'main force accumulation stage'!

You continue to hold the coin... A month later, not only did the price not rise, but it continued to drop by 20%. You start to feel numb, thinking that if you could break even, you would withdraw your money and never touch cryptocurrencies again. But contrary to your wishes, your coins continue to drop, and at this moment, you finally learn a new concept—stop-loss!

You feel very painful inside, struggling immensely, not knowing whether to liquidate or continue holding. At this moment, a good friend tells you that a new coin has surged 200% recently and shares his 'leading strategy' with you! You believe it!

You actually believed it!

So you sold your coins and told yourself that once you made a profit on the new coin, you would come back to average down and hold for the long term, then talk about breaking even!

So, do you know where the root cause of losing money in trading lies?

A big shot in the cryptocurrency world once said that as long as retail investors can achieve these six points, then 100,000 can easily turn into five million. What are the six points?

First point: You must understand stop-loss and take-profit.

We trade cryptocurrencies to trade, to speculate, not to hold forever! When you make money, you think about making more; when you lose, you are reluctant to sell. This mindset is definitely not advisable. When the position trend goes wrong, you need to sell decisively.

Second point: Do not always think about buying at the low and selling at the high.

Because the market will only have lower points and higher points. Ordinary people cannot achieve this mechanism, so do not pursue the so-called highs and lows. What we really need to do is buy and sell in the bottom and top regions.

Third point: Volume and price must match perfectly.

For those positions with rising prices without volume or those hitting new highs without volume, we must be vigilant. 'It is very likely a signal of a main force unable to unload, leading to a rise and subsequent exhaustion; never chase it. It is better to miss than to make a mistake.

Fourth point: The response must be quick.

When a piece of information emerges, we must immediately identify which sectors and companies benefit from it. If you cannot follow the first tier, then we should act promptly; the second tier will also yield considerable rewards.

Fifth point: Learn to take breaks.

As the saying goes, 'three months to see the bottom, three days to see the top.' This means that the main rising wave of the known price increase cycle only has a short time. Therefore, we need to learn to seize this main wave, while other times are usually for resting.

Sixth point: The biggest benefit of the market is a sharp decline because after a sharp decline, there are often many bigger opportunities. When others are greedy, you must learn to be fearful; when others are fearful, we need to be greedy. Therefore, when the market experiences a sharp decline, do not be afraid; at this time, we should choose quality positions and build them in a timely manner.

These six points sound simple to say, but few can truly achieve them. Why? If you cannot overcome the weaknesses of human nature, you will never earn your first five million in life.

Still, the same phrase: If you don't know what to do in a bull market, click on my avatar, follow me, and get free shares on bull market spot planning and contract passwords.

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